Unlocking Growth and Loyalty in Livestream ECOM

Did someone Say Design Challenges?

Innovative Strategies for Revenue and Retention in Livestream E-commerce

What is all about..

The booming livestream e-commerce market offers a unique blend of entertainment and shopping. To capitalize on this trend and enhance revenue and user retention, YO BAZAAR proposes three strategic features: Group Buying, Dynamic Pricing, and the Featured Vendors Program. These features aim to create a more engaging, rewarding, and social shopping experience for consumers while boosting visibility and sales for vendors, helping us stand out in a fast-paced market.

MY ROLE

Lead Product Designer

MY ROLE

Lead Product Designer

MY ROLE

Lead Product Designer

TEAM

1 PM, 1 Marketing Manager, 4 Devs, 1 Graphic Designer

TEAM

1 PM, 1 Marketing Manager, 4 Devs, 1 Graphic Designer

TEAM

1 PM

1 Marketing Manager

4 Devs

1 Graphic Designer

TOOLS

Figma, Figjam, Jira, Slack,

TOOLS

Figma, Figjam, Jira, Slack,

TOOLS

Figma, Figjam, Jira, Slack,

TIMELINE

Sep 2023 - Feb 2024

TIMELINE

Sep 2023 - Feb 2024

TIMELINE

Sep 2023 - Feb 2024

Product Strategy 1

Boosting Sales Through Community

Imagine tuning into a live stream where your favorite coffee expert is showcasing a new line of artisanal coffee beans. The excitement builds as you see not just the products but also the community of viewers who share your passion for coffee. With the Group Buying feature, you can join forces with other viewers in real-time to unlock exclusive discounts.

Group Buying

Join forces with other viewers in real-time to unlock exclusive discounts. This interactive feature makes shopping more fun and engaging, while creating a sense of urgency and community.

Impact: Increases sales through collective buying power.
User Experience: Fosters a sense of community and urgency.

Product Strategy 2

More Means More Savings

Imagine a coffee brand offering dynamic pricing during their livestream event. When a viewer adds three or more bags of coffee beans to their cart, they receive a dynamic discount on their entire purchase, encouraging them to buy more.

Dynamic Pricing

Unlock additional savings when purchasing three or more items. This feature encourages bulk purchases, making it ideal for stocking up or buying gifts.

Impact: Increases average order value.
User Experience: Provides rewarding and satisfying shopping.

Product Strategy 3

Elevating Quality and Visibility

During a busy shopping weekend, you log onto the platform and immediately notice a section highlighting featured vendors. These are not just any vendors—they are carefully selected for their exceptional quality and unique offerings. You decide to watch a live stream from a top-tier electronics vendor, drawn in by their premier placement and the promise of exclusive deals.

Featured Vendors Program

Highlight top-tier verified vendors for their quality and unique offerings, ensuring maximum visibility and drawing more attendees to their live streams.

Impact: Boosts vendor exposure, sales, and user attendance rates.
User Experience: Enhances trust and satisfaction with high-quality products.

PROPOSED FEATURES

1.

Join Group Buy while streaming

Engage directly with products as they are showcased, and tap into the power of community buying to unlock exclusive discounts. Join a group in real-time, combine purchases with others, and enjoy savings together without ever leaving the stream. This interactive feature not only makes shopping more social and fun but also empowers you to take advantage of deals as they unfold live. Perfect for viewers who love to shop smart and save big!

2.

Dynamic Pricing for bulk purchases

Unlock Savings with Bulk Purchases: Experience our Dynamic Pricing feature, which rewards you for buying more. When you purchase three or more items, enjoy automatically reduced prices on your selections. This feature ensures you save more as you buy more, making it perfect for stocking up on favorites or buying gifts. Shop smarter and watch the savings accumulate with each additional item you add to your cart

3.

Maximize Vendor Retention and User Engagement

Featured Vendors Story Card-

Elevate your shopping experience with our Enhanced Featured Vendors program, strategically designed to both spotlight top-tier vendors and increase live stream attendance. Carefully selected for their exceptional quality, popularity, and distinctive offerings, our featured vendors receive premier placement on our platform, ensuring they capture maximum visibility.

Featured Vendors Story Card-

Driving Success Through Innovation

By implementing Group Buying, Dynamic Pricing, and the Featured Vendors Program, we can significantly enhance the livestream e-commerce experience. These strategies not only boost revenue but also improve user and vendor retention by creating a more engaging, rewarding, and high-quality shopping environment. As the e-commerce landscape continues to evolve, these innovative features will position our platform as a leader in livestream shopping.

To measure the success of these implementations, we will monitor key metrics such as:

Revenue Growth: Track overall sales and average order value.
User Retention: Measure repeat purchase rates and customer loyalty.
Engagement Rates: Analyze viewer participation, group buying activity, and time spent on the platform.
Vendor Performance: Assess sales uplift for featured vendors and vendor satisfaction scores..
Discount Utilization: Analyze the uptake of Group Buying and Dynamic Pricing offers.

These metrics will provide valuable insights into the impact of our strategies, ensuring we continue to meet and exceed user and vendor expectations.

Driving Success Through Innovation

To measure the success of these implementations, we will monitor key metrics such as:

Revenue Growth: Track overall sales and average order value.
User Retention: Measure repeat purchase rates and customer loyalty.
Engagement Rates: Analyze viewer participation, group buying activity, and time spent on the platform.
Vendor Performance: Assess sales uplift for featured vendors and vendor satisfaction scores..
Discount Utilization: Analyze the uptake of Group Buying and Dynamic Pricing offers.

These metrics will provide valuable insights into the impact of our strategies, ensuring we continue to meet and exceed user and vendor expectations.

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